Carrhae Capital LLP Purchases Shares of 555,900 Copa Holdings, S.A. (NYSE:CPA)

Carrhae Capital LLP acquired a new stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 555,900 shares of the transportation company's stock, valued at approximately $52,166,000. Copa comprises about 6.0% of Carrhae Capital LLP's holdings, making the stock its 6th largest holding. Carrhae Capital LLP owned approximately 1.41% of Copa at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPA. Hexagon Capital Partners LLC lifted its holdings in Copa by 15.1% in the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company's stock valued at $81,000 after acquiring an additional 102 shares during the period. Rhumbline Advisers lifted its holdings in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company's stock valued at $132,000 after acquiring an additional 1,380 shares during the period. Nomura Holdings Inc. bought a new position in shares of Copa in the fourth quarter worth about $202,000. Kingsview Wealth Management LLC bought a new position in shares of Copa in the first quarter worth about $215,000. Finally, Mackenzie Financial Corp raised its stake in shares of Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock worth $256,000 after buying an additional 610 shares during the period. Institutional investors own 70.09% of the company's stock.

Analyst Upgrades and Downgrades

CPA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on Copa from $180.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, August 29th. TD Cowen decreased their price objective on Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Evercore ISI decreased their price objective on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com raised Copa from a "hold" rating to a "buy" rating in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $148.83.

Copa Price Performance

CPA traded down $2.25 on Monday, hitting $99.79. 368,509 shares of the company's stock traded hands, compared to its average volume of 279,262. The company's 50 day simple moving average is $91.86 and its 200-day simple moving average is $95.04. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 7.22, a P/E/G ratio of 0.59 and a beta of 1.49. Copa Holdings, S.A. has a one year low of $78.12 and a one year high of $114.00. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA - Get Free Report) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.11. The company had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $3.92 EPS. As a group, research analysts anticipate that Copa Holdings, S.A. will post 14.56 EPS for the current year.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend was Friday, August 30th. Copa's dividend payout ratio is presently 46.33%.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.